The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-20
CONDITION OF THE MARKETS
Very Heavy Sales Cause a Decline in
Pork, but Reaction Soon Follows.
Corn Opens at Higher Figures, but Declines
in Sympathy with Pork-Wheat Shows
BulIish Tendency Late in the Day.
A Very Duli Day I'm New York, with Slight
Rally Toward the Close.

A Very Duil Day I'm New York. with n Slight
Rally Toward the Close.
NEW YORK, Dec 19-Money on call was
easy at 2 to per cent, the last loan being made
nj 2; closing offered at 2
Primo mercantile paper, 5515 per cent.
Sterling exchange was firm at 81 50 for sixty
day bills. and 81 So for demand.
The total sales of stocks to-day were 136, 322
shares. including the following. Delaware
Lackawanns 81 Western, 1890; Louisville e.
Nashville 3,600 Northwestern. $500; Oregon
Transcontnental. 1880; Reading. $500; ST.
Paul. 1I,77s; Union Pacific, 1880; Western
Uni OF. $500
The stock market to-day was exceedingly dull,
abe transactions for the day being the smallest
for full days business seen in months. The
tone of the trading barely steady during
the forenoon. and an attack By the bearish room
traders upon n few leading stocks broke prices,
and the general market Eympathized TO a limited
extent There were very few orders on either
aide of the market in tbs morning hours, the
trading being confined more completely to the
professionals and traders than at any previous
time since last summer, London and the COM
mission people doing literally nothing. The
market was entirely devoid OK feature until the
avening. when the story was started that the
Reading miners would strike. and an attack
made upon that stock, which quickly lost per
cent Later. the attention Of the "bears" was
turned TO Richmond Sc West Point, which yield
ed q like amount. and Manhattan broke per
cent. on sales of only 200 shares. New England
wns heavy to weak all day long. and
showed q material decline q the end of the day.
Northera Pacific preferred was also notably
weak late in the day, but the remainder
without feature except Oregon & Transconti-
mental. which was quite firm in the early trad
ing on the run1or that the Oregon lease had been
signed, but most OF its gain was afterwa lost
The market opened steady to firm. the changes
from Saturdays final prices being in case for
more than per cent The dealings
tremely dull and remained for the entire
forenoon, and tbs general tone was rather
heavy, though It was not until after IL o'clock
shat any decided movement was seen, when
Reading started on ths down grade and
was aftsrward joined by Richmond g
West Point, the general list sympathizing
fractioualiy. The market rallied toward
the close, but again ssgged of, aud at the close
was barely steady at insignificant fractions bet
ter than the lowest prices reached. Most of the
hctive list is materially lower tonight, con-
steering the small transactions. Richmond &
West Point preferred lost Il; the common, Il;
New England, IL; Reading, per cent.
Railroad bonds were very dull, but firm to
strong; sales only s68I 600. Chesapeake &
Ohio, series A. rose 2. to 100; Lehieh & Wilkes
barre eonsols, %, to 113; Michigan Central fves
of 1881 T. to ITO; Toledo. Ann Arbor g. Grand
Trunk firsts. 81, to 1922
Government bonds were dull, but firm to
strong.